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Northeastern Brazil's Bahia state is seeking funding for a 7bn-real (US$3.89bn) public-private partnership (PPP) project to build a bridge between state capital Salvador and Itaparica island, a spokesperson for the state planning department (Seplan) told BNamericas.

The state is also working on developing a concession model for the bridge, which could include toll payments. Licensing should be in place for a tender to be launched in 2014, the spokesperson said.

With six lanes and two shoulders, the swing bridge will be 11.7km long and 27m wide, with a 160m movable section. It will have a 70m clearance for ships to pass under it and the navigation channel is set to be 25m deep.

The Salvador-Itaparica project will aim to preserve the scenic area of Todos os Santos bay while supporting the expansion of Salvador port, allowing for the implementation of shipyards and industry in the surrounding municipalities.

The bridge is part of a larger initiative to develop an improved road system in Salvador.

The program involves integrating federal highway BR-324 with federal highways BR-101, 242 and 116, as well as state highway BR-001 in the Todos os Santos bay area. The initiative also includes widening a stretch of BR-001 and the Funil bridge, among other works.

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Methodology & Procedures

Definitions

Projects covered include state-owned and private projects in the Infrastructure, Electric Power, Oil & Gas (excluding upstream), Water and Waste, and Mining sectors.

Where applicable, a project is considered as such until the end of construction and ramp-up to full capacity (with the exception of mining projects, where the date of commissioning signifies the end of the project). Projects must have a:

Data

For state-owned projects, initial information about the start date and estimates for completion and investment are taken from original signed contracts, along with addendums and annexes.

If original contracts cannot be obtained, information is taken from public documents, presentations, news articles from BNamericas archives, and external sources.

In cases where contracts are subject to approval by legislators, the start date is the date of the law or legislative approval.

In the case of private projects, information is taken from public sources, such as stock exchange filings, annual reports, company presentations, third party research and press releases.

In judging the timing of investment decisions for private projects, great care was taken to differentiate between large projects receiving environmental approval and proceeding directly to construction, and smaller projects where the investment decision hinges on securing financing.

Best care is taken to ensure that recorded data is correct at the time of entry and that each entry is backed with a relevant source.

The greatest care possible was taken to ensure consistency of information in order make a like-for-like comparison in project costs. Insofar as the figures rely on disclosure by the organization or company responsible, the figures can be considered to be conservative in nature.

No attempt was made to adjust figures for inflation during the course of research or for consideration of the time value of money.

Validation

In the case of state-owned projects, validation is carried out where possible with either a member of the consortium, EPC contractor, a relevant state agency or advisors to either party.

Currency

Projects costs are measured in US dollars. Where project costs are measured in a local currency, amounts are converted to US dollars at the date of the relevant announcement, signature or report.

Severity of deviation from original estimates

The severity of deviation from original estimates is defined according to set criteria.

Timing

Status

Condition

Ahead of time

95% of original estimate or below (measured in months)

On time

95% to 105% of original estimate

Minor changes

105% to 120% of original estimate

Medium changes

120% to 160% of original estimate

Major changes

Over 160% of original estimate

Budget

Status

Condition

Ahead of budget

95% of original budget estimate or below

To budget

95% to 105% of original budget estimate

Minor changes

105% to 120% of original budget estimate

Medium changes

120% to 140% of original budget estimate

Major changes

Over 140% of original budget estimate

Changes in Scope

Changes in scope beyond the start date are not accounted for.

Language definitions

Where guidance is non-specific as to dates for completion, the following is used. Project to be completed by 2018 = December 31, 2017 Project to be completed in 2018 = December 31, 2018